Smart Lighting Market Size, Share and Trends Analysis Report By Product, By Application, By End Use, By Region And Segment Forecasts 2022 – 2031

Kenneth Research, in its repository of market research reports, has recently added a report on Smart Lighting Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Smart Lighting Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Smart Lighting Market products.

The Final Report will cover the impact analysis of COVID-19 on this industry:

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The Smart Lighting Market is majorly affected by the recently hit global pandemic, COVID-19, which has devastated several businesses worldwide. Although, the ICT industry has observed a significant rise in the utilization of cloud applications, yet several manufacturing organizations in the ICT industry are facing significant issues, especially in places where the ICT infrastructure is not that satisfactory.

According to Verified Market Research, The Global Smart Lighting market was valued at USD 6.56 billion in 2017 and is projected to reach USD 30.85 billion by 2025, growing at a CAGR of 21.4% from 2018 to 2025.

What is Smart Lighting?
Smart lighting is defined as a lighting technology that is designed for ensuring energy efficiency. With the help of smart lighting technology, lighting can be controlled from an app present on smartphones. Using these mobile apps, lighting can be controlled with an ease. Smart lighting comprises of various technologies such as daylight sensing, occupancy sensing, ultrasonic and many others. Smart lighting systems ensure high cost savings and lower energy usage. Growing popularity of LED lighting products fuels the growth of smart lighting market.

Global Smart Lighting Market Outlook
In the report, the market outlook section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities and challenges faced by the industry. Drivers and Restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.
Rising modernization and development of smart cities, growing demand for intelligent solutions for street lighting systems, need for energy-efficient lighting systems and growing penetration and declining cost of LEDs have been driving the global smart lighting market. On the other hand, perception regarding high cost of installation, inadequate awareness about payback periods, and security & privacy concerns in smart lighting systems might hamper the overall market at a global level.

Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements which interests the client. The “Global Smart Lighting Market” is mainly bifurcated into sub-segments which can provide a classified data regarding latest trends in the market. This can be of a great use in gaining knowledge about the cutting-edge technologies in the market.

Global Smart Lighting Market Competitive Landscape
The “Global Smart Lighting Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Acuity Brands, Inc., Zumtobel AG, Digital Lumens, Inc., Streetlight.Vision, Encelium Technologies, Inc., Royal Philips Electronics N.V., Honeywell International, Osram Licht AG, Legrand S.A. and Lutron Elecronics, Co.. Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above mentioned players globally.

Global Smart Lighting Market Segmentation, by Offering
• Hardware
o Lights and Luminaires
o Lighting Controls
• Software
• Services
o Design and Engineering
o Installation
o Post-Installation

Global Smart Lighting Market Segmentation, by Communication Technology
• Wired Technology
o Digital Addressable Lighting Interface
o Wired Hybrid Protocols
o Power-Line Communication
o Power Over Ethernet
• Wireless Technology
o Zigbee
o Wi-Fi
o Bluetooth/Bluetooth Low Energy
o Enocean
o Wireless Hybrid Protocols

Global Smart Lighting Market Segmentation, by Application Type
• Indoor Application
o Residential
o Industrial
o Commercial
• Outdoor Application
o Highways & Roadways
o Public Places
o Architectural

Global Smart Lighting Market Segmentation, by Installation Type
• New Installation
• Retrofit Installation

Global Smart Lighting Market Geographic Scope
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Latin America
o Brazil
• Rest of the World

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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.

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